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Technology Stocks : DT: Deutsche Telekom AG

DT 48.94

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From: elmatador	5/23/2001 9:33:18 AM
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Deutsche Telekom: acquisition of VoiceStream will be cheaper (Deutsche Telekom: Voicestream-Kauf wird billiger) Financial Times Deutschland; May 23, 2001 The acquisition by German telecommunications operator Deutsche Telekom AG of US mobile phone operator VoiceStream Wireless Corp will be cheaper than had previously been estimated. VoiceStream has the right to abrogate the takeover contract if shares in Deutsche Telekom fall below the agreed 33 euros in a given time period. Although this has been the case, observers doubt that shareholders will take advantage of the clause and terminate the merger contract. According to the contract, Deutsche Telekom stands to pay less in cash for the takeover if its share price falls below a certain level. Therefore, the cash payment is now estimated at between $4.4bn and $5bn, compared with previous forecasts of $7.7bn. However, the group will now pay between 3.4 and 3.7 Deutsche Telekom shares per VoiceStreem share, compared to a previous ration of 3.2:1.

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